Tractor Supply rises after Jefferies upgrades to 'buy'

Shares of farming equipment retailer Tractor Supply TSCO.O up 1.6% at $53.75 premarket

Jefferies upgrades to "buy" from "hold" rating; raises PT to $64 from $58

Company's strong value proposition gives it a competitive edge over peers, driven by sharp pricing supported by predominantly domestic sourcing - brokerage

Sees TSCO shares as a potential "hedge" given the resilience of its customer demographic and momentum behind early-stage, needle-moving growth initiatives

19 of 32 brokerages rate the stock "buy" or higher, 13 "hold"; median PT is $65 - data compiled by LSEG

As of last close, shares flat YTD